Warner Bros. Discovery Sees Q1 Loss Despite Streaming Improvements

John le Carre’s George Smiley would have spotted the tail immediately. He would have noticed the man with an earpiece far to his left move in lockstep with the chap to his right.

So many stars stepped out to celebrate Warner Bros. Studios’ 100th Anniversary during the 2023 Cannes Film Festival!

three pricing options to consumers: a $9.99 per month Max Ad Lite tier, a $15.99 per month Max Ad Free tier and a $19.99 Ultimate Ad Free tier, while continuing to offer a standalone version of the lower-cost Discovery+.Ahead of the launch, Warner Bros. Discovery CEO David Zaslav said during the company’s May earning call that the company expects its streaming business in the U.S.

EXCLUSIVE: Warner Bros. Discovery (WBD) is reviewing its TV commissioning and editorial strategy in the UK due to the tricky economic headwinds, Deadline understands.

Warner Bros. Discovery CEO David Zaslav was met with heavy jeering while delivering a commencement speech at Boston University amidst the ongoing Writers Guild of America (WGA) strike in Hollywood.During the graduation ceremony at Boston University – where he received his law degree in 1985 – Zaslav was invited back to receive an honorary degree, as well as to deliver a commencement speech to the graduation cohort.Per reports from The Hollywood Reporter, the jeering began even before Zaslav’s speech, when he was being introduced. Throughout his 20-minute speech, Zaslav was met with loud, angry boos and chants including “pay your writers”, “we don’t want you here” and “shut up, Zaslav” in support of the ongoing strike.Footage of the boos and “pay your writers” chants were captured and shared on Twitter by striking Late Night with Seth Meyers writer Mike Scollins.

Amidst the rising tensions of the current Hollywood writer’s strike, Warner Bros. Discovery CEO David Zaslav faced a storm of boos and angry chants as he took the stage to accept his honorary degree at the University of Boston’s commencement ceremony.

William Earl Warner Bros. Discovery CEO David Zaslav felt the effect of the WGA strike while delivering a commencement speech at Boston University, getting jeered and facing chants of “pay your writers” while he was trying to speak. “Late Night with Seth Meyers” writer Mike Scollins posted a video of one moment during the address in which the chant was loud enough to make Zaslav pause in the middle of his speech. Scollins captioned the video “Zaslav getting hit with a Pay Your Writers chant in Boston. This is so good.”Zaslav getting hit with a Pay Your Writers chant in Boston. This is so good. pic.twitter.com/00pL4ahAqZ In a statement after the speech, Zaslav expressed gratitude to the university where he earned his law degree in 1985. He didn’t reference the Writers Guild of America strike at the commencement, but he did afterward.

Jeers and chants of “pay your writers” from picketers and a number of audience members greeted Warner Bros Discovery chief David Zaslav on Sunday as he delivered Boston University’s commencement address.

McKinley Franklin editor Max has revealed the rollout plans for its four original documentary specials narrated by Morgan Freeman in honor of Warner Bros.’ 100th anniversary.  The first two specials will make their debut at Cannes on May 24 as 2023 Official Cannes Classics Selections, followed by a May 25 debut on Max. The remaining two specials will be available to stream on Max on June 1.  The “100 Years of Warner Bros.” docuseries pays homage to the output of Warner Bros. over the past century. Featuring interviews with directors, actors, executives, journalists and historians, the specials highlight everything from the studios’ early beginnings to its presence in the modern day. 

“Republicans are back on the air. Republicans weren’t on the air,” on CNN, Warner Bros. Discovery CEO David Zaslav told a media conference Thursday as he said the storied brand is moving to become less of an “advocacy network” under new leadership.

Brian Steinberg Senior TV Editor A lot of TV companies are judged by how quickly they can introduce new shows. Warner Bros. Discovery thinks it may find some gains by developing new ways to introduce audiences to series and content that already exists The strategy has been playing out in open view on some of the company’s biggest cable networks. Audiences watching NBA basketball games have been pushed to sample series such as Food Network’s “Tournament of Champions,” HGTV’s “Rock The Block” and Discovery Channel’s “Deadliest Catch.” And some portion decided to follow the programs back to their original homes for more. According to company research, 12% of TNT sports viewers who sampled “Tournament” went on to watch it on Food Network. Likewise, 10% of basketball fans that tried “Rock The Block” followed it to HGTV while 7% of viewers who tested “Deadliest Catch” watched more of it on Discovery.

John Hopewell Chief International Correspondent Buenos Aires-based Meikincine has swooped on international sales rights to “The Extortion,” the biggest Argentine box office hit to date of 2023, in a deal with Warner Bros. Discovery Latin America.  “The Extortion” is backed by a pedigreed combo of Particular Crowd, part of Warner Bros. Discovery Latin America, Oscar winner Juan José Campanella’s 100 Bars, “Argentina, 1985” producer Infinity Hill and producer-service company Cimarrón Cine. Headlined by Guillermo Francella, memorable in Campanella’s Academy Award winning “The Secret in Their Eyes” and star of Pablo Trapero’s “The Clan,” “The Extortion” turns on Alejandro, a pilot with a secret. Blackmailed by sinister intelligence service agents, he is plunged into a world of intrigue and corruption from which he will battle to escape alive. 

Students at Boston University will have to cross a Writers Guild picket line to attend their May 21 graduation ceremony, where Warner Bros. Discovery President & CEO David Zaslav, an alumnus of the school, will be making the commencement address.

Stockholders have expressed serious displeasure with 2022 executive compensation at Warner Bros. Discovery led by CEO David Zaslav, according to the result of a vote at the annual meeting Monday that was filed with the SEC today.

As if movie fans needed another reason to be wary of new Warner Bros. Discovery CEO David Zaslav: Deadline reports that the CEO told the hosts of the CNBC show “Squawk Box” that “a love for working” will be what ultimately ends the current WGA writers’ strike.

Warner Bros Discovery’s hour-long earnings call with Wall Street analysts Friday morning included nary a mention of the WGA strike, unlike many other such calls in recent days.

Warner Bros Discovery CEO David Zaslav has said the company’s U.S. streaming operation is “no longer bleeding” after it posted a $50M profit for Q1 this year. “It’s harder to run a business when you have a big bleeder,” he told investors on an earnings call minutes ago.

Warner Bros Discovery matched Wall Street estimates for revenue in the first quarter, with $10.7 billion, but posted a wider-than-expected loss due to tough comparisons with the year-ago period.

Max brand name on May 23, the entertainment giant revealed it had added 1.6 million streaming subscribers during the quarter for a total of 97.6 million globally.The direct to consumer division reported a profit of $50 million, a $704 million year-over-year improvement on a pro forma combined basis. Revenue for the segment fell 2% year over year to $2.455 billion, including $2.165 billion in distribution revenue, $103 million in advertising revenue and $185 million in content revenue.

Brian Steinberg Senior TV Editor Paramount Global said it would it cut its dividend as continued investment in streaming weighed on the company while it saw declines in its traditional revenue from advertising and cable distribution. The owner of CBS, Nickelodeon and the Paramount movie studio said its first-quarter loss came to nearly $1.23 billion, or $1.81 a share, compared with a profit of $775 million, or 58 cents a share, in the year-earlier quarter. Revenue was essentially flat, down 1%, on shortfalls in its TV media and filmed entertainment units, while its streaming operations saw revenue rise 39%. “We are focused on continuing to drive market-leading streaming growth while navigating a dynamic macroeconomic environment,” said Bob Bakish, the company’s chairman and CEO, in a statement.